Singapore is seeking to cement itself as a key player for cryptocurrency-related businesses as financial centers around the world grapple with how to handle one of the fastest growing areas of finance.
¡°We think the best approach is not to clamp down or ban these things,¡± said Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), which regulates banks and financial firms.
Instead, MAS is putting in place ¡°strong regulation,¡± so firms that meet its requirements and address the multitude of risks can continue to operate, he said in an interview.
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